Seaport Global Securities Comments on Spirit AeroSystems Holdings, Inc.’s Q1 2018 Earnings (SPR)

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) – Investment analysts at Seaport Global Securities boosted their Q1 2018 earnings per share estimates for shares of Spirit AeroSystems in a report released on Thursday. Seaport Global Securities analyst J. Sullivan now expects that the aerospace company will post earnings per share of $1.52 for the quarter, up from their prior estimate of $1.31. Seaport Global Securities currently has a “Buy” rating and a $120.00 price objective on the stock. Seaport Global Securities also issued estimates for Spirit AeroSystems’ Q1 2019 earnings at $1.79 EPS, Q2 2019 earnings at $1.86 EPS, Q3 2019 earnings at $2.02 EPS, Q4 2019 earnings at $2.09 EPS and FY2019 earnings at $7.74 EPS.

Several other equities research analysts also recently issued reports on SPR. Citigroup reaffirmed a “buy” rating and set a $85.00 price target on shares of Spirit AeroSystems in a report on Tuesday, September 26th. Jefferies Group raised their price target on Spirit AeroSystems from $84.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Cowen reaffirmed an “outperform” rating and set a $88.00 price target (up previously from $79.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $86.00 price target (up previously from $80.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. Finally, Buckingham Research raised their price target on Spirit AeroSystems from $53.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Spirit AeroSystems has an average rating of “Buy” and a consensus price target of $87.78.

Shares of Spirit AeroSystems (NYSE:SPR) traded down $1.09 during trading on Friday, reaching $97.66. The company’s stock had a trading volume of 1,115,100 shares, compared to its average volume of 978,700. Spirit AeroSystems has a fifty-two week low of $51.85 and a fifty-two week high of $99.34. The firm has a market cap of $11,290.00, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 1.56 and a debt-to-equity ratio of 0.60.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. Spirit AeroSystems had a return on equity of 31.14% and a net margin of 4.98%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Spirit AeroSystems in the fourth quarter worth $166,000. Nine Chapters Capital Management LLC bought a new position in shares of Spirit AeroSystems in the third quarter worth $218,000. Quantitative Systematic Strategies LLC bought a new position in shares of Spirit AeroSystems in the third quarter worth $227,000. Commonwealth Equity Services Inc bought a new position in shares of Spirit AeroSystems in the third quarter worth $228,000. Finally, Invictus RG increased its position in shares of Spirit AeroSystems by 54.5% in the third quarter. Invictus RG now owns 3,300 shares of the aerospace company’s stock worth $256,000 after purchasing an additional 1,164 shares during the period. Institutional investors own 96.18% of the company’s stock.

In other Spirit AeroSystems news, SVP Duane F. Hawkins sold 5,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $83.04, for a total transaction of $415,200.00. Following the transaction, the senior vice president now owns 39,374 shares in the company, valued at approximately $3,269,616.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert D. Johnson sold 500 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $84.13, for a total value of $42,065.00. Following the transaction, the director now owns 1,964 shares in the company, valued at approximately $165,231.32. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 8th. Shareholders of record on Monday, December 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, December 15th. Spirit AeroSystems’s payout ratio is 14.08%.

TRADEMARK VIOLATION NOTICE: This piece was first published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/19/seaport-global-securities-comments-on-spirit-aerosystems-holdings-inc-s-q1-2018-earnings-spr.html.

About Spirit AeroSystems

Spirit AeroSystems Holdings, Inc is a non-original equipment manufacturer (OEM), aircraft parts designer and manufacturer of commercial aero-structures. The Company is also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.

Earnings History and Estimates for Spirit AeroSystems (NYSE:SPR)

Receive News & Ratings for Spirit AeroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit AeroSystems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply